Zale Replaces CEO

December 19, 2007

Dallas, Zale Corp. named a new CEO Thursday. The move replaces Betsy Burton, who spent less than two years heading up the jewelry-store chain.

Zale brought in retail veteran Neal Goldberg, who will also serve as president, in effort to help turn around the company that has reported widening losses and recently issued a gloomy holiday sales forecast.

Goldberg was president of The Children's Place Retail Stores Inc., which also operates Disney stores. He has held senior jobs at Macy's, Victoria's Secret and Gap Inc.

Burton, who was named CEO in February 2006, will serve as a Zale consultant under a two-year contract.

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